House Price Market Update March 2009

Summary Commentary for March 2009At last the property market news is starting to suggest that we are not going to suffer further falls in the market this year. Buyers are coming back into the market, mortgage completions are up and the Nationwide and New Homes data are reporting the first increase in prices for over a year.

However, it's important not to get too excited. The current flurry in activity is mainly due to pent up demand from last year and property investors with a good bank balance buying as much property as they can while prices are so low. It's likely that by the summer this demand will fall back a little unless lots of affordable mortgages for first time buyers come onto the market. The property market can't begin until the threat of unemployment subsides and reasonable lending at 90-95% starts to become lending norms. READ OUR CONCLUSION

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